Mumbai based ZingHR raises $10 million from Tata Capital Growth Fund
- ByTejika Bajaj | January 17, 2022
Mumbai based HRtech startup ZingHR has recently raised a sum of $10 million in a funding round led by Tata Capital Growth Fund. Following this investment, the latter will hold 33 percent of the stake in the HR solution provider.
The company executives have revealed that the Mumbai based startup will utilize the recently infused capital for expansion into new global markets and to upgrade its existing technology base. Furthermore, the startup also intends to deploy these funds to inject more human capital into the startup. With this round of funding, the startup has raised a consolidated sum of $12 million till date.
Talking about the recent round of funding along with the company strategy following the same, the chief executive at ZingHR, Prasad Rajappan said, “Our target is to grow the revenues 10x over the next 12-18 months. The company has a presence in markets such as Australia, Southeast Asia and the Middle East and will now look at expanding to Europe, more countries in the Middle East, North Africa and the US. We just have to now scale up our efforts in global markets and with the new fund raise; we are going to aggressively pursue these markets. This funding will be critical in taking further our expansion plans.”
Founded in 2014 by Prasad Rajappan, ZingHR is a HR tech platform which offers tech-driven HR solutions to organisations which helps them along their automation transitions with business outcomes while enhancing employee experience. Currently the startup serves more than 700 organisations with over a million employee records with vertical solutions. It offers solutions using artificial intelligence, machine and deep learning algorithms.
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